A Guide To Investing Accounts in Canada: TFSA, RRSP, FHSA & RESP 🇨🇦📈

Hey friends! Here is a comprehensive guide to the different registered investing accounts in Canada! In this video, I break down the differences between TFSA, RRSP, FHSA, and RESP accounts in Canada. Whether you're a beginner investor or looking to optimize your investing strategy, this video can help you make informed decisions to maximize your wealth.
Comment below which account you would open! TFSA, RRSP, FHSA or RESP?
0:00 Intro
0:36 Registered vs. Non-Registered Accounts Explained
4:15 RRSP Explained
10:53 TFSA Explained
13:30 FHSA Explained
16:19 RESP Explained
My house-buying journey: • How I Bought My First ...
Mutual funds explained: • Self-Directed Investin...
FHSA Explained: • The Tax-Free First Hom...
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Пікірлер: 42

  • @olaidep
    @olaidep3 ай бұрын

    Thanks… this video should get hundred thousands of views overnight. Quality video and information…Please keep bringing the videos. God bless you.

  • @xoReni

    @xoReni

    3 ай бұрын

    Thank you so much! please share so it can reach who needs it 🥰

  • @damiekay
    @damiekayАй бұрын

    Thanks Reni. This is the best explanation I’ve seen so far.

  • @xoReni

    @xoReni

    Ай бұрын

    You're very welcome! So glad it was helpful :)

  • @TheTosinOlaniyi
    @TheTosinOlaniyi3 ай бұрын

    I love the fhsa too. Such a great intitiave to ginger first home buyers to buy a house 👏🏾

  • @xoReni

    @xoReni

    3 ай бұрын

    It really is! The Canadian govt ate that one lil thing 🤭

  • @arthurredits
    @arthurredits3 ай бұрын

    Informative video, and everything delivered in a clear way!! Thank you so much:))

  • @xoReni

    @xoReni

    3 ай бұрын

    Thank you so much! 🥰 I appreciate the feedback!

  • @NickiBluIs
    @NickiBluIs3 ай бұрын

    LOVE THIS! took out my note pad and made an investment plan for next few years :)

  • @xoReni

    @xoReni

    3 ай бұрын

    Yay I’m so so glad I could help 🤗 thank you for watching!

  • @NickiBluIs

    @NickiBluIs

    3 ай бұрын

    Update! I opened an FHSA last night and invested in 2 different ETFs. Look at me learning 🥰

  • @xoReni

    @xoReni

    3 ай бұрын

    @@NickiBluIs omg 🤭 we love a fast learner!

  • @Tonietones
    @Tonietones3 ай бұрын

    If you wake me up from sleep any day or night and ask me the meaning of TFSA I can tell you the meaning, benefits and how to utilize it. It’s my favorite.

  • @xoReni

    @xoReni

    3 ай бұрын

    😂😭 if you ever move to Canada you will be WELL equipped!

  • @nwakaegoenwemasor7208
    @nwakaegoenwemasor72082 ай бұрын

    Would open RRSP and RESP

  • @xoReni

    @xoReni

    2 ай бұрын

    Love it! Great choices.

  • @xoReni
    @xoReni3 ай бұрын

    Which account will you be opening? Let me know!

  • @malenohndimbe1602

    @malenohndimbe1602

    3 ай бұрын

    Already have RRSP, taking advantage of employer match. Then I am opening RESP, TFSA and also FHSA. 🎉

  • @xoReni

    @xoReni

    3 ай бұрын

    @@malenohndimbe1602 I love it 🥳🥳🥳

  • @beautyforashes_

    @beautyforashes_

    3 ай бұрын

    I opened a TFSA with my employer, we have employee benefits that can be applied to TFSA. It’s my first and I’m so excited. Thank you Reni

  • @bbmarriagetv

    @bbmarriagetv

    Ай бұрын

    Please reno can recommend how to access loan as a Nigeria student already studying in Canada.My niece she's in her second year

  • @xoReni

    @xoReni

    Ай бұрын

    @@bbmarriagetv it’s pretty hard to as an international student. You can look into empower loans

  • @PinoyTruckerInMontrealQuebec
    @PinoyTruckerInMontrealQuebec2 ай бұрын

    Thanks ❤

  • @xoReni

    @xoReni

    2 ай бұрын

    You’re welcome ☺️

  • @scillaons
    @scillaons3 ай бұрын

    Which bank(traditional or online) or investment platform is the best place to open your TFSA, FHSA and the RRSP? I’m planning to open the TFSA 😊

  • @xoReni

    @xoReni

    3 ай бұрын

    There are pros and cons to each but I am a big fan of Wealthsimple and TD direct Investing! If you’re a beginner, Wealthsimple is a good start as they low fees

  • @scillaons

    @scillaons

    3 ай бұрын

    @@xoReni Thank you. I’ll check it out

  • @queenhustle83
    @queenhustle833 ай бұрын

    With the RRSP.... Whats happens when you are ready to pull the money out during retirement? Do you have to pay additional tax on it. At what age can you start accessing that money?

  • @xoReni

    @xoReni

    3 ай бұрын

    You pay taxes based on what your marginal tax rate is. So if you take out $50k from your RRSP in one year and that is your only source of income for the year, you’ll be taxed like someone who made $50k. You can take out the money at any age but to take it out without paying additional withdrawal taxes, you can do it at 65.

  • @queenhustle83

    @queenhustle83

    3 ай бұрын

    @@xoReni I just don't understand why we are taxed on money we were already taxed on to put into the RRSP in the first place.

  • @xoReni

    @xoReni

    3 ай бұрын

    @@queenhustle83 you can put money into the RRSP before taxes are taken out. You can ask your employer to put it in before you get your paycheque. But also, if you put in with money you’ve paid taxes on already, remember you get a tax refund that year. If you make $65,000 and decide to put $5000 into the RRSP, you’ll only pay taxes on $60,000. Does that make sense?

  • @Whitelily-wj5cu1qi1o
    @Whitelily-wj5cu1qi1o3 ай бұрын

    Despite the financial struggles my family and I faced, everything is finally falling into place! Weekly earnings and wealth of $47,000. I will always praise the Lord!!! ❤

  • @Drakee04260

    @Drakee04260

    3 ай бұрын

    Wow! I was a little shocked when you mentioned expert Susan Lawsons. What a coincidence!!

  • @Scott-jp3cr

    @Scott-jp3cr

    3 ай бұрын

    Susan Lawsons has really set the standard for others to follow, we love her in the UK because she has been a huge help and changed so many lives

  • @Dvd24567

    @Dvd24567

    3 ай бұрын

    This sounds great and I would like to participate in this. Is there any way to talk to her?

  • @PreshWeirdo

    @PreshWeirdo

    3 ай бұрын

    This sounds great and I would like to participate in this. Is there any way to talk to her?

  • @Donna-ey9hu

    @Donna-ey9hu

    3 ай бұрын

    After raising up to 125k trading with her, I bought a new house and car here in the states and also paid for my son's surgery. Glory to God, shalom.